Umicore : Preview H1 23: Catalysis strong, E&ST in line, Recycling weak
>Despite mixed performances, overall profitability still ok - Umicore will publish H1 2023 results on July 28. We expect a solid performance of Catalysis (good margins), an in line E&ST (hedging has partially protected the unit from lower lithium prices) and a weak Recycling (stronger than expected impact from lower PGM prices). We forecast sales of € 2.1bn, in line with VARA consensus and an adjusted EBITDA of €506m (margin of 24.1%), which is just a tad below VARA c...Umicore is global player in the materials technology and recycling industries. Co. focuses on application areas such as chemistry, materials science, metallurgy and recycling. Co.'s business model comprises four segments: Catalysis, Performance Materials, Energy Materials and Recycling. Catalysis focuses on the abatement of global automotive emissions; Performance Materials focuses on materials that help develop more sophisticated and safer products; Energy Materials produces materials used in the production and storage of clean energy including rechargeable batteries and photovoltaics; and Recycling treats complex waste streams containing precious and other non-ferrous metals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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